New Mountain Finance Corporation Announces Completion of Offering of 4,312,500 Shares of Common Stock
New York, NY – 2/14/2019 – New Mountain Finance Corporation (the “Company”) (NYSE: NMFC) announced today that it has completed an underwritten
offering of 4,312,500 shares of its common stock (including 562,500 shares of common stock that were issued pursuant to the full exercise of the option granted to the underwriters to purchase additional shares) at a public offering price of
$13.57 per share. The Company’s investment adviser, New Mountain Finance Advisers BDC, L.L.C. (the “Adviser”), paid all of the underwriters’
sales load of $0.42 per share. In addition, the Adviser paid to the underwriters an additional supplemental payment of $0.18 per share, which reflects the difference between the actual public offering price of $13.57 per share and the net
proceeds of $13.75 per share received by the Company in this offering. The net amount received by the Company is believed to be in excess of book value and is therefore accretive to shareholders.
The Company intends to use the net proceeds from the offering primarily for new investments in portfolio companies in accordance with its
investment objective and strategies. The Company may also use a portion of such net proceeds for other general corporate purposes, including to temporarily repay indebtedness (which will be subject to re-borrowing), and other working capital
needs.
The joint-lead book-running managers for the offering were Wells Fargo Securities, LLC, Morgan Stanley & Co. LLC, Goldman Sachs & Co.
LLC and Keefe, Bruyette & Woods, A Stifel Company. The co-managers were Janney Montgomery Scott LLC and Oppenheimer & Co. Inc.
Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before
investing. The prospectus supplement, dated February 11, 2019, and accompanying prospectus, dated July 13, 2018, each of which has been filed with the Securities and Exchange Commission, contain a description of these matters and other important
information about the Company and should be read carefully before investing.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in this
offering or any other securities nor shall there be any sale of these securities or any other securities referred to in this press release in any state in which such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any state.
A shelf registration statement relating to these securities is on file with and has been declared effective by the
Securities and Exchange Commission. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, NY 10152-4077, or by calling (800) 326-5897, or by email: cmclientsupport@wellsfargo.com; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Goldman Sachs & Co.
LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, or by calling (866) 471-2526, sending a request via facsimile at (212) 902-9316, or by email: prospectus-ny@ny.email.gs.com.
About New Mountain Finance Corporation
New Mountain Finance Corporation is a closed-end, non-diversified and externally managed investment company that has elected to be regulated
as a business development company under the Investment Company Act of 1940, as amended. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all
levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. The Company’s first lien debt may include traditional first lien senior secured loans or unitranche loans. Unitranche loans combine
characteristics of traditional first lien senior secured loans as well as second lien and subordinated loans. Unitranche loans will expose the Company to the risks associated with second lien and subordinated loans to the extent it invests in the
“last out” tranche. In some cases, the investments may also include small equity interests. The Company’s investment activities are managed by its investment adviser, New Mountain Finance Advisers BDC, L.L.C., which is an investment adviser
registered under the Investment Advisers Act of 1940, as amended.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements”, which relate to future events or our future operations, performance or
financial condition. Forward-looking statements include statements regarding our intentions related to the offering discussed in this press release, including the use of proceeds from the offering. These statements are not guarantees of future
performance, condition or results and involve a number of risks and uncertainties. Actual results and outcomes may differ materially from those anticipated in the forward-looking statements as a result of a variety of factors, including those
described from time to time in our filings with the Securities and Exchange Commission or factors that are beyond our control. The Company undertakes no obligation to publicly update or revise any forward-looking statements made herein, unless
required to do so by law. All forward-looking statements speak only as of the time of this press release.
SOURCE: New Mountain Finance Corporation
New Mountain Finance Corporation
Shiraz Y. Kajee, Authorized
Representative
NMFCIR@newmountaincapital.com
(212) 220-3505